Symbolic photo.

Accenture Plc said on Thursday that it would cut about 19,000 jobs and lowered its annual revenue and profit estimates.

This is a new sign that it is said that due to the deteriorating economic outlook of the world, corporate spending on IT services is being reduced.

This has been said in a report by  

the news agency

Reuters .

Recession-wary tech industries are cutting budgets.

Amidst this concern, the company also reduced its annual revenue growth and profit forecasts on Thursday.

The company now expects annual revenue growth in the range of 8 percent to 10 percent in local currency, as against the earlier expectation of 8 percent to 11 percent.